Evening Star Newspaper, November 18, 1929, Page 4

THE EVENING STAR.. WASHINGTON, D. ¢.. MONDAY, NOVEMBER 18. FEDFRAL RESERVE Mesuersoscsss,.. BARES CREDT ACTS Crisis Is Revealed in “Monthly Bulletin. ¥xplanation of the part the Federal Reserve System and the New York Fed- eral Reserve Bank took auring the criti- cal period in the stock market in Octo- ber in extending credit to New York banks which took over brokers' loans of non-banking lenders is confained in the monthly Federal Reserve bulletin, made | public vesterday. Combined figures of weekly reporting member banks in the leading cities. the bulletin said. showed an increase in total loans and investments of $1,600.- 000,000 from October 2 to October 30, nearly all of which occurred during the last week of the month and at baoks in New York City, The taking over of this_ecredit, the bulletin continued. was reflecred in & growth in the last week in October of £1,500.000,000 In net demand deposits of the New York banks and of & conse- quent large growth of tneir reserve re- quirements. which was indicated by an incresse of $240,000.000 In their reserve balances with the Federal Reserve Bank. System Aided Banks. “In coming to the support of the sit- uation during this period of severe dis- turbance the banks in New York City had the assistance of the Federal Re- serve system.” the bulletin added. “The Federal Reserve Bank of New York'in- ereased its discounts for member banks by $150.000.000 during the week and in addition purchased $150,000.000 of United States Government securities in the open market. As a consequence of the action of the banks in New York | City and of the Federal Reserve Bank of New York, the liquidation which too kplace in the security market was not associated with a rise in money | rates i “Rates on call money. which had de- slined from a range of 8 io 9%per cent in September fo 6 per cent in the latter part of October, ranged between 5 and | 8 per cent during the last week of that | month.” The board reviewed the decrease In brokers' loans during the latter part of | October. when a total reduction for the month of $2.400.000.000 in brokers' bor- | rowings was reparted by the New York | 8tock Exchange. ! Foreign Money Is Withdrawn. “Loans 10 brokers by non-banking lenders declined by $2,000.000.000 dur- | ing October, reflecting withdrawals of funds from the call-loan ket by | foreign lenders, investment and trad- ing companies id other corporations the bulletin said. | for out-of-town | banks. which include a considerable | amount of loans for the account of their | customers, decreased by $800,000,000, while loans by New York City benks; for their own account increased by has received the universal approval of Of synagogne and school extension. $1.000,000.000.” | Industrial activity. the bulletin said, |mgencies utilized, and. in addition, the | American Pederation of Labor and the | WITH RAIL LEADERS _ (Continued From First Page.) ness, Secretary Lamont of the Depart- ment of Commerce said today. He said, too. that the Government would look {0 existing agencies in the business world to aid in carrying forward the program. His own department and the United States Chamber of Commerce, Mr. Lamont said, would be among the | Association. If a/ bringing the American Bankers co-ordinating agency, Government and =)l the commercial nd labor organizations into closer | onch. is found to be necessary, it vall be set up later. The nzmes of & number of America's important business and banking e: ecutives have been mentioned in con- nection with the President's confer- ences. Among them are those of Owen | D. Young, Thomas W. Lamont of J. P. Morgan & Co. and Julius Barnes chairman of the board of the United ' States Chamber of Commerce. and | Arch W. Shaw of Chicago. Mr. Young served as chairman of the committee | on unemployment several years ago, and on a later committee dealing with the | economic situation. Others mentioned | are J. P. Morgan and Henry Ford. Tt is expected that Mr. Hoover will | lay before the conferences complete in- formation, obtained by the Govern- ment, regarding the business situation | and ectivities in all lines. With this, information at hand it is believed that | the representatives of industry, agri- culture and labor will be in a position to go shead with a well co-ordinated | program. { Wagner Approves Plan, | The President’s program for assist- | ance to business was given indorsement | by Senator Wegner of New York, a| Democrat. who has made a study of the employment situation and who has urged that Congress adopt a plan o} prevent widespread unemployment in times of depression by planning public works for a long time ahead. which may be undertaken when the need comes. Senator Wagner said: “The great danger inherent in the present disturbance of the public | mind.” said Senator Wagner. “is that it may develop into a spell of unem- ployment. ~ That must be guarded against. and prevented at all costs. | 1t has been repeafedly asserted and established that present-day prosperity depends upon the buying power of me‘ great masses of the people, Nothing | sustains that buying power as much as the assured expectation that em- ployment, will continue and that wages will be earned. “If there is doubt of the future, it ! repidly turns to fear, which congeals the desire to purchase and causes all economic activities to shrink. | Urged Passage of Bill. | For the last two years I have re- peatedly urged upon Congress the de- sirability of passing my bill providing for the long-range planning of public works and the creation of an agency to co-ordinate such activity. The meat | of that plan is that public agencies should so order the construction of pub- lic works as to stabilize employment | and prevent unemployment. The bill economists and has in principle been | recommended by the Senate commit- which have been held in abevance due! to_high money rates. | The later conferences will deal with the construction of terminal and ware- | house facilities for agriculture as well | as_the expediting of construetion on | public bufldings for the Federal, S!IYQ‘ and municipal governments. Never before in thme of peace has | there been such a concerted move made | to direct the course of American busi- | ness. It establishes a precedent of such fer-reaching proportiond that. ‘nobody here is ready to predict the outcome,* for it means that ihe Federal Govern- ment, under the leadership of the Pres. ident and rthe department heads, has | attempted a work of co-ordination of business and industry which, if at- tempted even under normal circum- stances, would be of vital importance 1o the economic weifare of the country. In times of prosperity. however, go ernmental influence is exerted delicately | and is often brushed aside by leaders in indusiry as unwarranted interfer- ence. With the Nation united now in an cffort to preserve the gains made by industry the last few years, the leader- ship of the Government s not likely to be challenged. Congress may be wrangling about the tariff and other phases of political controversy, but it is a foregone con- clusion that if any legislation 1s re- quired fo assist in the movement which has for its object the stimulation of business. approval will be given as rap- tdly gs was the recent suggestion of tax | reduction. The monthly announcement by the Federal Reserve Board indicating that there was some falling off in business i certain lines long before the stock | market decline ocgurred is taken to mean that business has b#en in process of readjustment already and that th» stock market was late in discovering its error in exaggerating the earning | power of basic industries i Tt s recognized here that mno real economic upset has occurred in the major lines of business and that the important thing to be done now is to | prevent a depression in mood from | oringing on a depression in fatt, The | conferences called by President Hoover and the activity which is expecied io | result therefrom may be regarded as » definite step toward preservation of confidence in a business outlook which the fact-finding agencies of the Gov- ernment insist is entirely healthy and substantial, though perhaps not com- paring with previous high records. (Covyrizht. 1920, SPEAKERS APPOIfiTED. Jewish Congregations Lay Plans for Tour. Tn representing Washington Jewish organisations fn the November tour of the Union of American Hebrew Congre- gations, Dr. Abram Simon will speak in Philadeiphia December 20 and Maurize D. Rosenberg in Richmond Novem- ber 22, Tour representatives will include 300 rabbis and laymen, who will visit more than 200 cities. David A. Brown. New York banker, is national chairman of the tour. Hebrew organizations associated with the union are the National Pederation of Temple Sisterhoods, National Fed- eration of Temple Brotherhoods. He- brew Union College and the department | | typified by building construction. These | which assure that. { sible for this mood of abstinence from | buying to extend to circles other than the rich and other than those. who speculate. That such an infection of mood, if widely extended. would have an effect of retarding volume of trade goes without saying. This constitutes| the leading psychological factor in the | situation. | That such a condition Is unnecessary | and not warranted by the other factors | the situation is the belief held R P lin i - s so coldly by in Program Outlined for Confer | strongly and also coldly by persons in ence Called to Survey Fi- | conficent that the net of all the future nancial Conditions. HODVER' BUSIESS PARLEYSOONDUE | ordinated.” need result in no material curtailment of the buying power of the | American public. | Factors in Situation Cited. President Hoover's preliminary e€on-| yn holding this judgment they rely ference to sustain business conditions | ypon certain factors, some arising out meets this week. Tts steps will be based | of the very panic itself, which act as upon a survey of such changes as a counterbalance to the panic. One of may now be taking place, and esti-| ihese factors is the abundance of money bl probable futiire cond 0. and abundance of credit. They hold e e i & conacious or sub. | that (his abundance is irresistible as s s motive to avoid infecting | force making for volume and activity the country with unnecessary pessim- 0';":':":‘:;} :’:fin:’"?: '_‘V';l"""";";“f,"“,l:r:’f Hows | is one that might occur during the ever, this motive I dlsmised. The | DT, ROt ey rom wan e AT A ien and vicwe pre. | Strest back to its normai repasitories e me aoldly s the coming confer- | In the banks of the country and in the treasuries of corporations. e e A preceding. ihe || That this panic cannot be attended - | by money famine or credit famine is panic on Wall Street (Mere Si'ines | the distinction which marks it off from Shing of ‘AcKiviLy in 8 EXOVE S | every previous Wall Street panic of the same kind. On the conirary, due the existence of the Federal Reserv ~onditions, If wisely guided and co- were lines in which the cost of bor- rowing money on bonds is a basic U . i rncmf The reason for ebbing in these | System. this panic is inevitably bound Tes was ihe excessive absorption of | to be followed by abundance of money money In Wall Street. By the defia- 8t markedly low rates and interest. tion in Wall Street this money is re- . leased. Business dependent on bond o\ iopECT |N LARCENY | CASE HELD IN SOUTH issues had been dammed back and this dam is now broken. Executive of D. C. Shoe Arrested Panic Viewed as Helpful. It is anticipated. therefore, that the panic will have a helpful effect on these Former and all lines of business in which the cost of borrowing money counts heavily Whether this anticipation will be ful- Florida filled as respects ordinary building con- 8 struction 15 open to argumen: both ways. That road consiruction ‘will be revived and stimulated is ceriain There are plans already under way Every other form of business activity will be stimulated that depends on the power of citics. States and corporations to borrow money at low rates. Preceding the Wall Street panic there was one other line of business in which signs of recession had begun. That was Store in Roy Henderson, 35 years old, who is under indictment. here on charges of embezzlement, larceny after trust and grand larceny, has been arrested by police in Clearwater. Fla. ending a search for him by Districi police for more than twn years. Detective Sergt. Howard F. Ogle left today for Clearwater to bring Hender- son to this city for arraignment in the motor industry. The cause of that the Supreme Court on six counts of recesssion was believed to be different larceny and embezzlement from the from the canse described above. In the Lincoln Shoe Store st 1115 G _street, motor industry. i the. bellef of some Involving a total of $1,100. Hender- leaders of ft. sales had been stimulated %00 Was assistant manager of the shoe over a long period to & where, as Store. ettt e e o orns | The lleged embezzlement and larceny Tecession was due. The counterbalance Of the money ocaurred in February to the condition lies in foreign consump- W tion. Some leaders in the motor indus- try belleve that foreign consumption s still in the stage in which American consumption was 20 vears ago. These leaders believe there is enough potential expansion in the foreign field to take up any slack that may develop in do- mestic consumption. ey 3 ; | of 'Paris, o succeed the late Cardinai e ey Ry e Du Bois. It was said that officlal an- To turn to the direct effects of the | pmouncement would. be. made. At o panic, there is one that practically ' Vatiean shortly, every one admits. ‘There will be a Verdier Named Cardinal of Paris. PARIS, November 18 (#).—Semi-of- ficlal announcement was made here yesterday that Canon Jean Verdier, su- perior of the Grand Seminary of St. Suplice, had been appointed cardinal intarruption they concede | CITY NEWS IN BRIEF. TODAY. Continental Chapter of the Daughters of the American Revolution wiil meet at _the home of Mrs. Ployd Williams, 2608 Third street, at 8 oclock. Mrs. Williams will present a musical pro- gram following the meeting. Admiral George Dewey Naval Auxil- iary, United Spanish War Veterans, | will meet at Northeast Masonic Temple, lmfihnk'; and F streets nortneast, at 3 o'clock. Ten Evenl Course will begin fonight at the Georgetown Presbyterian Chureh | at 8 o'clock. “Cnrrent Topics” will be discussed by Georgette Ross Howard | and Alice Hutchins Drake. FUTURE. i Annual German dinner and _dance | for the benefit. of the German Orphan | Asylum will be given at the Elks Club, 919 H street, tomorro Dinner will be served from 11:30 am. to 7 p.m. Dance in the ballroom from 9 fo {2 o'clock. Committee chairman, Gus | Brahler, Duich dinner under auspices of the | Sodality of the Holy Name Church at Holy Name School, 1217 West Virginia | avenue northeast, tomorrow evening, | 4:30 to 7 o'clock. Et- will | the Weekly luncheon meeting of ihe sinon Chapter of Kappa Bea Pi {be held tomorrow at 12:15 at | Madrillon Restaurant. | Annual dinner and bazaar of the .adies’ Ald Society, Hamline M. E.! hurch, will be held tomorrow and | Wednesday, from 3 p.m. to 10 pm., at | the church, corner of Sixteenth and | Allison streets. Home-cooked dinner. | G. A. R., Burnside Post, No. 8, will | meet at the G. A. R. Hall, 1412 Penn- | Sylvania avenue, tomorrow afternoon, 2 | | o'clock. A card party will be given by the Urell Auxillary, United Spanich War Veterans, Wednesday _evening. 8:30 | o'clock, on the second floor of Pythian | | Temple, 1012 Ninth street. Business Women's Council will meet | {omorrow evening at the Church of the Covenant. Rev, James Wi Morris of Epiphany Episcopal Church will conduct | !the devotional period. Miss Mary Wild | will give a talk on “The Prize-Winning | Picture and Other Phofographs.” Miss Wild recently won the $500 prize in a Nation-wide confest. i Washington Society of Engineers will | Go to Eiseman’s for SWEATERS . for Spert ork. Every style and represented in our great stock. $395 10 $1095 EISEMAN’S 7th & F. Sts. falling off of what is called luxury buy- ing. This means the sort of buying while larger in August and September) tee which investigated unemployment. than - year ago, showed a decline for| “Had the bill been enacted there Octaber as compared to & year ago. but| would now be no need for hasty con- | only because the increases were not as | ferences, which in themselves seem to | large as those of 1928, which was a vear | forebode distress. The superiority of a | of high production. 'Total production, permanent, responsible agency con done mainly by the rich when in the expansive mood arising out of big and [ n FRENCH SUB LAUNCHED. | Surcouf One of Largest Under- water Vessels in World. - A. C. Moses Motor Company tye report continued. was 11 per cent larger for the first nine months of the | vear than for the corresponding period | of 1928. The total output of automo- biles in September was about the same | as in the same month a year ago, the board said Building Volume Holds. ‘The volume of residential building sontracts awarded fo September de- clined. but public works and commer- cial and industrial buflding continued | tinuously making the necessary adjust- ments to provide stability over panicky conferences in the midst ‘of an!' emergency is (oo obvious to require; elaboration.” BIG PRE EDENT SET. i Hoover Back in Role of Engineer- | Business Man. | BY DAVID LAWRENCE, 1 President Hoover regards the oppox- tupity to bring about co-operauion be- tween Government and business as rov. the ~readjustment. ering not merely | growing out of the recent stock market landing the slackening of ' industrial activity in the past two months.” the board concluded, “factory | employment and wage payments to in dustrial workers, which has been in- creasing “for the past two ve mained in large volume this Earnings of industrial workers, ther fore, have been maintained, and there | appears tg be no considerable change| in the income of farmers, as compared ar. The sustained buying | power of both industrial and agricul tural workers has been reflected in a large volume of distribution of com- modities by rallroads and in a grow in retail sales to ultimate consumers decline. but s a permanent project. It was Mr. Hoover who immcdiately | after the war preserved through the re construction period many of the com- modity divisions set up in the various parts of the Government for war pur- poses. What the President is endeav- | oring to do now would have been sub- ject to widespread criticism if he hLad | attempted it under normal conditions. The crisis, if it can be called such, is | indeed made to order for the engineer- | business man in the White House. It is | the kind of emergency in which he i | perfectly at, home, particularly since he | can avoid politics and call to confer- | ence leaders from all industries, classes and parties. CHERBOURG. Prance, November 18 () —The Prench navy'’s newest sub- marine, one of the largest in the world was lsunched here today and chris- tened “Surcouf” after the famous Breton naval commander. The submarine is 400 feet long and! i of 4,000 tons displacement. It can dive to & depth of 450 feet. nses Fitl DR. CLAUDE S. SEMONES Eyesight Specialist Service Station 1437 Irving Street N.W. To Marmon Motor (ar On Seprember 15th last we our desire to give np October 15th. We shall protect everv Marmon owner through the 90 davs guarante seme aincere period, and after tha we still sa A CV A. C. Moses, Pres. Washington, D. C. the franchise—this was co-operation and energies will he entirely devoted to the Pierce-Arrow cars, hut Marmon is a great car.” Solesroom 1727 Connecticut Ave. Owners: notified the Marmon factory of accomplished t every owner will receive the service as heretofore. Onr 1OSES MOTOR CO. - AT I Group Meetings Slated. | The program for the week has been | LIEUT. WALTER HINTON | avidea ol s mesiogt iy’ concs gtz TQ SPEAK TO OPTIMISTS | The announced purpose is to expedite e leitein 1o iy siest et aia Bt | o etcel Talla And suthors World Flight Pilot to Tell - of | ise large construction projects to take | ¢ : care of the growing freight of the coun- | Plane’s Utility in Modern | {7y pecauze they did ot know what | Development. | consolidation plans might be developed which would fhterfere with their ar- Lieut. Walter Hinton of world flight rangements. The assumption now 1is| fame. chairman of the aviation com- |that Mr. Hoover will try to get an agree- | mittee of the Washington Chamber of ment of some kind on consolidation so Commerce, will be the principal speaker | that the Interstate Commerce Commis- at the weekly Juncheon meeting of the ' sion can unscramble the situation in Washington Optimist Club Wednesday | which the problem bas foundwitself for afternoon at the Hamilton Hotel. | several years, | Lient. Hinton, it is announced by Next is the grpup conference with the Herbert B. Mevius, president of the Op- | bankers, representatives of manufac- | timist Club, will speak on his world | furing concerns, public utility compa- | flight, his flight to the far north and: nies and varjous trades and distribution | of his explorations in Ihe Brazilian agencies. The plan here i= to encourage | ungles | the _financing_of ronstruetion projects He also will speak on the utility of | =m — the alrplane in todav's stage of its de- elopment and of plans for the estab- ishment of up-to-date facilities for air passenger, mail and express service into and out of the Capital. Fireproof garageor ware. | ' house, about 30,000 square |feet. National 3000. | DUTY IS LOWERED. | FOR RENT | Britain Granted Smaller Rate by Two Bedrooms, Liv- Argentina on Artificial 8ilk. Be Cable ‘o The Star ing Room, Dining Room, Kitchen, Bath and Re: BUENOS AYRES, November 18. President Hipolito Irigoyen signed a ception Room. Electric Refrigeration. THE ARGONNE 50 per cent on Britih artificial silk 16th & Columbia Rd. piece goods and on cotton and wool ! piece goods containing a proportion of artificial silk. The decree was issued ! with the understanding that. the British would undertake not fo levy or impose any restriction on the entry of Arge tine me: nd wheat into England. be- d necessary sanitarv restrictions INERE o Regular Savings o), OR MORE No matter how small the amount is, if it is deposited regularly it will assure you of financial independence, Start in saving today! We have Open daily § to 5 financed Saturday uniil #oon 'NATIONAL PERMANENT BUILDING ASSOCIATIO on your City of Homes" Savings (ORGANIZED 1890) 949 Ninth Street N.W. two interesting members of the search for Santa Claus MEET THEM IN “A CHRISTMAS ADVENTURE” A Jolly Trip to the North Pole and Santa Claus Land for All the Kiddies &, W BEGINS MONDAY, NOV. 25th n he St THE GREAT NEWSPAPER OF THE NATION'S CAPITAL When you are —don’t let your system stay clogged. Expel food-waste promptly with Epsotabs — the safe, modern laxa- tivethat’s easy and pleasant to take. Epsotabs are Epsom Salts com- pounded in tablet form and sugar-coated. No incon- venience. Insist on the genuine. At druggists. Werite for free sample THE DILL CO. 25 inaboxfor 25¢ 60 in a box for 50¢ Just Below New York Avenue Tater Qeservisten T. 8. Treasusy Vi FERNS AND PALMS E Unusually Low Prices ! A Wonderful Assortment—Prices Will Surprise You SALE BEGINS TUESDAY MORNING Continues as Long as They Last Beautiful Little Ferns 10c Good Sized Ferns 59¢ Each Holly Ferns, 39¢- Asparagus Ferns, 49¢ Great Big Ferns $1.25 Each Fine Kentia Palms 49¢ Each Great Big Palms $1.25 Each Massive Palms $2.89 to $7.50 Dracaena Plants, 49¢ PLANT NOW Japanese Euonymus Plant 12 to 18 in, high..... American Arborvitae, big, 315 to 4 fr... A beautiful Fern or Palm placed hera and there abont your home creates a cheery, com: fortable appearance! Maw Hardy Evergreens 89c¢ each Norway Spruce, Retinospora Retinospora Saquar- ale. Scotch American Arborvitae and Globe Arborvitae. PLANT FALL BULBS NOW PBEFOES THE GROUND L FREEZES 9c t Hyacinths—All Colors {EY _Firsi_ Size Bulbs. 20c E | Second Sixe Bulbs, 18 Paper White Narcissus ; Plant Now for Christmas Blooms Good, Strong, Healthy Bulbs, 12 for $1.00 bowl of charming, beautiful, . fragrant flowers on your table all Winter. Narcissusfor Daffodils g...,!v..;. Perennisl Gardens. Evergreens, Rocl Lawn Work—Small Jobs Wi PERENNIAL PLANTS Dus Fr 25c Each; 10 of » Kind for $2.00 3 . :::‘:D::‘-'VL?'"'(:;'l”:h-"nn‘lnhl:‘::n. ",;llnlhinn_. :T(ill: Daistes. Double “rrieties. “Complete lixi of ‘miats tn nr new hurs cxialor Tl Merntifel F;Wéggggiano &CO- BULB CATALOG FREE ON REQUEST B 1 eI el 0 —0 1 meet Wednesday evening,g at 8:15 | American Revolution, 1227 o’'clock, at the Cosmos mub."rhe Nat- | street. General rpeebtion m ural Hesources of Porto Rico, whl be { meeting. ; the subject of an address by . PR — Newell, ’hnnunr_v member off the society | District Couneil, Loyal ‘Roysl and president of the Research Service, i Arcanum, meets fomorrow evening, at § Washington, D, C. Buffet supper, | o'clock, at 924"Grdnt place. Dahigren Terrace Citizens' Associa- | D: C. Soclety, Sonsof Am tion meels Wednesday at 8 oeclock. | O/ution. mests Wednéaday 'evening Discussion of several local laws and of | O.clock, e Mayflower ¢ parking situation will feature business 88rd Low Prices! EIRTRNRNL” 3 BRANCHES 674 C Sta SW ‘SU&FlaAeNE M PREES /502! Ga AvaNW A benefit card party will be held at || the Hamilton Hotel Thursday evening for the Christian and Elenora Rup- pert Home for the Aged and Indigent Residents, 8 o'clock. Society df Mayflower Descendants in the District of Columbia will’ hold it annual meeting Thursday evening, 8:15. at the headquarters building, Sons of We’re Sorry it RAINED but . . . You'll be GLAD to Share in the Many BARGAINS in’ KAUFMAN DAY Continued Through Tuesday HARRY , KAUFMAN:! 1316 -1326 Seventh StNW. Edmonston & Co. CORPORATED: ©; Betw Ne Brameh Stores 612 13th St. 1 M. Bets, Mgr. Celebrating Our 34th Anniversary REDUCTION i SALE d Children’s EMBRACING ALL SHOES! Wamen' We are justly proid; of our aceomplishments. Building up more. and more success yearly thru maintaining our fuhda- nfentals ~— selling ; ‘esly footwear of the most de-' pendable sort at fairest TING THE PROPER SHOES. Properly fitted Shoes and curs Foot 10% Reduction on ALL MEN'S SHOES that result. £dmonston® CARL M. BETZ, Mgr. West Side— 612 13th Street Bet.F & G Sts. [—=ao]l——|mjc——a|o|—] 6 seconds. .. and your car is fully protected YOU DRIVE INTO the nearest garage or filling station that shows the orange and n Denatured Alcohol sign. Tell the man you swant Denatured Alcobol. He consults a chart . . . fills your radiator . . . checks it, for your reassurance . . . and you drive away! That's all that's needed to protect your car against eold weather. 96 seconds... less time than it takes to buy gas! Far less bother than a change of oil! And sure protection . . . with- out the slightest danger of cor- roded metals, immed pumps, shorted electrical circuits. Allata fraction of the cost of less well- tested substitutes! Remember. .. Denatured Alcohol is the only anti-freeze universally accept- ble to all makes of cars! tu“; In%u:t;;:.l fil:‘ql»:ol Iin‘lti- te, Inc., Graybar ling, New * York Ci DENATURED ALCOHOL SAFEST, CHEAPEST ANTLFREEZE " S